U.S. Consumers’ Use of Cryptocurrency for Payments

Fumiko Hayashi and Aditi Routh

Payments System Research Briefing, 2025, 6

Abstract: Some policymakers and payments industry participants expect consumers to use stablecoins—a type of cryptocurrency intended to maintain a stable value relative to some other asset—for payments. However, the share of U.S. consumers who use cryptocurrency for payments has been very small and recently declined slightly. The most cited reason for using cryptocurrency is that the person or business receiving the money preferred it, suggesting many users passively choose cryptocurrency for payments.

Date: 2025
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